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20121201
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Search Results 0 to 14 of about 15 (some duplicates have been removed)
2009, bernard madoff pleaded guilty to perpetrating what's believed to be the largest financial fraud in history. he received the maximum sentence for his crime, 150 years in prison. but while madoff is behind bars, there's still much we don't know about the scam which involved, by some accounts, a fraud of more than $50 billion. investigators are still trying to figure out who was involved and where the money went. this edition features some of the people most intimately familiar with madoff's schemes: irving picard, the court-appointed trustee charged with finding the missing money, some of the crooked financier's victims and the man who figured out madoff's crimes out before anyone else, harry markopolos. plus, morley safer examines why, even today, investors are so susceptible to con men. we begin with markopolos. at the beginning of 2009, he sat down with steve kroft for his first television interview. >> kroft: until the end of 2008, harry markopolos was an obscure financial analyst and mildly eccentric fraud investigator from boston who most people would never notice on the str
. let's get back to dog brain. brother josh getting a lap dance. bernard madoff making license plates. oprah winfrey giving me a ford. just a few minutes after turning the face cards into people and building a memory palace out of my office, behold. king of hearts. queen of clubs. queen of hearts, jack of hearts. jack of clubs. king of spades. jack of diamonds. queen of diamonds. and king of clubs. >> king of clubs. there you go. >> reporter: look at that! changed my life. i can't remember your name, though. >> well-done, bill. thanks. just ahead, with the country only three days away now from the edge of the fiscal cliff, we're going to tell you what it could mean for you and your wallet. >>> tonight in washington, the pressure is on, the clock is ticking, the countdown to the so called fiscal cliff hits the 72-hour mark in just a few minutes. while congress is hoping for a hail mary deal to avoid taking a plunge over the fiscal cliff, most americans are wondering what is wrong with these people, and how exactly social security going to affect them. so, we went ahead and crunched the
. we'll have more on "good morning america." >>> bernard madoff's younger brother, peter, has been sentenced to ten years for his involvement in the million billion dollar ponzi scheme. he claims he did not know about the fraud until his brother told him. a new judge in new york said she had a hard time believing that. >>> and it's a special holiday for one south florida family after a daring rescue. a police officer's dash cam caught the drama after the car crashed into a tree and burst into flames. the officer broke out the back window and jumped into the burning car. a good samaritan and another officer managed to rescue the others inside. thankfully, everyone's going to be okay. >>> complaints are pouring in across the country from people who say their neighbors are taking the christmas spirit a little too far. we've all seen these extreme light displays, just like this one in florida. so, many visitors flood the cul-de-sac every night to get a look at the homeowner has volunteers in place to direct traffic. but neighbors say the bright lights and loud music are too much. and t
of that multibillion dollar ponzi scheme. bernard madoff's younger brother, peter, has been sentenced to ten years. he pled guilty in june to conspiracy and falsifying the records of an investment adviser. the younger plaido eer madoff s didn't know about the fraud until his brother told him. a new judge in new york said she had a hard time believing that. >>> and call this an indication of the reduced influence of the 220-year-old new york stock exchange. it's being bought by a company that's just 12 years old. no major changes are expected after atlanta based intercontinental exchange completes its $8 billion purchase. that should happen sometime next year. >> wow. >> $8 billion. >> to purchase the new york stock exchange. that's fascinating. what that could potentially mean should be interesting. but we'll see how it plays out, as always. >>> facebook will soon be racking up more revenue $1 at a time. the social network is testing out a new service on a limited number of people for $1, and will guarantee delivery of a message into the main inbox of someone who they are not friends with. currently,
of increased spending by consumers. the biggest ponzi scheme in history. peter madoff, bernard madoff's brother has been sentenced to ten years in prison. that was the maximum sentence he faced because he had a plea deal with prosecutors. he admitted to conspiracy, falsifying documents and lying to clients. his brother bernie is serving a 150-year sentence in a north carolina prison. >>> it has been 504 days since the u.s. lost its top credit rating. i'm getting tired of this segment. i would like to it change but i'm not very hopeful given what is happening in washington. a lot of clown action down there. there was some good news on housing. consumers doing their part. sales of existing home hit a high, the best we've seen in three years in november. >>> now our fourth story "outfront." breaking news, house speaker john boehner unexpectedly pulled a vote on his own tax plan. he couldn't get enough votes from his own party. now, boehner's plan would have allowed taxes to go up on people making $1 million or more. the reason there was a revolt, some people didn't want any taxes at all. dana bash
person of the year. thursday is the day the brother of jailed financier bernard madoff is sentenced, peter madoff has agreed to a plea bargain to spend the next decade behind bars. friday brings the winter solstice. saturday is expected to be the busiest shopping day of the year. seasons greetings. carolyn mccarthy is a suburban new yorker whose husband was killed and her son rund wounded in a random shooting on the long island railroad in december 1993, not long after she ran for congress and won. she shares some thought now on friday's tragedy in newtown, connecticut. >> it's hard in words alone to do justice for the innocent young children who died the other day. words alone aren't enough to make sure that there isn't another shooting like that in connecticut. that's why i hope that we as a nation can come together and take action to prevent these types of tragedies in the future. congress where i work can be a pretty divided place. i often like to remind my colleagues on both sides of the ail of the things that unite us. and there are many. we love our country. we support our co
it. and peter madoff, a brother of bernard madoff has been sentenced to prison. back to "hardball." >>> welcome back to "hardball." there was some tough questioning today for the state department in the senate and house hearings about the benghazi attack. two senior officials testified and acknowledged that the department needs to do better and make improvements to prevent something like this from happening again. this week an independent investigation concluded there were, quote, systemic failures at the state department in the run up to the deadly attack. the report led to the resignation of four senior state department officials including the head of diplomatic security. here was bob corker taking the department to task. let's watch. >> what i saw in the report is the department that has sclerosis, that doesn't think outside the box, that is not using the resources that it has in any kind of creative ways, is not prioritizing. i cannot imagine that we had people out there with a lack of security existing. it seems to me that what the state department would have done is to prior
of bernard madoff is sentenced to ten years in prison for helping cover up the most notorious ponzi scheme in history. peter madoff pleaded guilty to charges of conspiracy and falsifying investment records. he says he is, quote, deeply ashamed. bernard madoff is currently serving a 150-year sentence in a north carolina federal prison. >>> and thousands of people have no power in the wake of strong storms that tore through parts of mobile, alabama, in the wee hours this morning, officials have no reports of serious injuries from the storm, thankfully, but it was strong enough to peel roofs from buildings, topple trucks and trees and flip cars at a mercedes dealership. look at those pictures. >>> and the national hockey league says, unfortunately, it's canceling its regular season schedule through mid january. nhl officials say cancellation of more than half of the 2012-2013 season is necessary because there is still no contract in place between the league and the players union. in all, 625 games almost 51% of the season will have gone unplayed through january 14th. so sorry, hockey fans. >>
floor will remain on wall street. >>> bernard madoff's brother has been sentenced to ten years in prison. peter madoff had been helping his brother run a ponzi scheme that swindled investors out of billions of dollars. peter madoff pleaded guilty to falsifying documents and lying to securities regulators. at thursday's sentencing he said he's deeply ashamed. >>> "usa today" reporting instagram is backtracking from a new privacy policy as we reported there was a huge backlash when the website suggested it would use customer photos in ads. instagram says it has no intention of selling photos for ads and it never did. >>> the "l.a. times" says facebook is testing a new user fee to allow customers to send messages to the regular inboxes of people who are not their friends. right now the messages go to a box for other which is also known as spam. >>> queen elizabeth's christmas speech will be broadcast in 3-d for the first time. spokeswoman says they want to do something big and special in the jubilee year. the queen calls the 3-d message >>> a strong storm no
to understand that. >> bernard l. madoff securities employed over 100 people, but it seemed like a family business. his brother peter and several cousins worked there. mark and andrew worked on the 19th floor of new york's lipstick building, where they legitimately traded securities for the firm and for outside clients. the investment advisory business--the ponzi scheme-- was housed two floors below, where their father never made any trades at all. he was simply creating phony paper statements that showed steady profits for his clients, his victims. access to the 17th floor was highly restricted. you must have been curious about why the 17th floor was such a secret place. when you or mark asked him about his end of the business, what did he say? >> it was always very similar responses. "you guys have your business to worry about, and let me worry about my business," and the conversation would end there. >> but people say, "look, there's no way these kids could not have at the very least suspected something was going on." >> well, keep in mind these were completely separate businesses. we
Search Results 0 to 14 of about 15 (some duplicates have been removed)